Posted on 29. Januar 2023 in Allgemein
• A bill has been introduced in the state of New York that would allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash.
• The legislation proposes allowing crypto to be used as „a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,“ and more.
• New York State Assembly member Clyde Vanel introduced the bill, which has been referred to the New York State Assembly Committee on Government Operations.
The U.S. state of New York is considering a bill that would authorize state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. Assembly Bill A2532, introduced by New York State Assembly member Clyde Vanel this week, proposes allowing crypto to be used as „a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,“ and more.
The bill, which has been referred to the New York State Assembly Committee on Government Operations, seeks to amend New York’s state finance law by adding „cryptocurrency as a form of payment.“ The legislation defines cryptocurrency as „any form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank including but not limited to, bitcoin, ethereum, litecoin, and bitcoin cash.“
If the bill passes, it would authorize state agencies to enter into agreements with individuals or entities to accept cryptocurrency payments for fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts, including penalties, special assessments and interest, owed to state agencies.
The bill comes at a time when cryptocurrency has been gaining more traction and acceptance in a variety of industries. This includes the use of cryptocurrency in the travel industry, with companies such as Expedia, CheapAir, and AirBaltic all accepting cryptocurrency payments.
The potential of cryptocurrency to revolutionize the financial industry has also been recognized by a number of major companies, such as Microsoft, which now accept cryptocurrency payments. If the bill passes, it would mark a major step forward for cryptocurrency, as the state of New York would be among the first to accept the digital currency as a form of payment.